Search

This weeks question came from Facebook and The Business Enterprise Magazine of India.

Q: What do you think would be a starting point for growing a small business?

This question has come up several times this week. When you are starting a new business the very first thing you need to do is spend some time identifying your target market. If you are new to this I have created a very easy to use and easy to understand Small Business Toolkit that walks you right through the steps without all the headaches and I have provided a link to it at the end of this post. However, for the moment let me give you the short version to get you started.

Identifying a potentially successful market niche begins with determining the emotional motivation of your customers or clients. Ask the following questions to clarify your niche market ideas and identify the ones that will be worth you time and effort to pursue and test. This simple test can save a tremendous amount of time and money. Here is how to get started. Ask yourself the four questions below when considering a niche market. If you get four yes’s then you have a good niche marketing idea and you should test it. If you don’t get all four yes’s then you need to fine tune your idea until you do. Use this test each time you are considering launching a new product or service and you will dramatically increase your chances of success.

Is my customer or client current searching for solutions to their most urgent need or problem?

Question three:

Does my customer or client have few if any recognized options or solutions to their current problem or urgent need?

Question four:

Is there a large group of people who are currently looking for a solution right now?

Once you have answered yes to each of the above questions you have identified your potential target niche market that has the potential for being the most successful for you. The nest step is to identify each of the emotional needs and drives of your potential customer and client, determine an urgent unmet need, and then uncover where your customer or clients are searching for solutions to their needs and challenges so that you can position your company in front of them and offer your products, services, and expertise in a way that solves their unmet emotional urgency and resolves their problems and challenges.

I hope this has given you a little guidance. I have just recently released a videos series with tons of information to help you really jump-start your business this year. Just go to AlexzandraD.com and at the top right of the page enter you email address. The entire series will be delivered right to your email inbox and there is absolutely no charge! You can also leave your comments or questions just under each video. I love hearing from you so keep the comments and questions coming. They help me create even more meaningful and better targeted products and services for you and below you will find the link to The Small Business Toolkit and everything you need to identify your own target market and so much more in a simple and easy to use fill in the blank format that will save you a lot of time and money and that is always a good thing in my book!